You may have heard of or even seen a 3-D printer...but did you know how rapidly this industry is rising? Here are some facts regarding the 3-D print industry:
- Chuck Hull first thought of the idea of the 3-D printer in 1984.
- His first printer took 2 months to create a prototype at the time.
- The 1st 3-D printed item was a small black eye-wash cup.
- He patented the printer in 1986 and secured $6M in funding to found the company 3D systems.
- Innovative companies like General Motors and Mercedes-Benz began using the 3D systems in the late 1980's to build prototypes.
- The 3D printing industry surpassed $1 billion in 2012.
- From 2010 to 2015, this industry had an annual growth rate of 22.4%.
The 3D printer is changing how products are made. We see applications for this type of product development in a wide variety of industries including: Aerospace, Automotive, Medical, Electronics, Construction, Manufacturing, and Retail. As Consumers, we are all affected by this innovation. Amazon even launched a 3D printing products store last years where consumers can print on demand products from the online marketplace. Stay tuned for even more advancements in this technology.